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Lagos records 83% budget performance in 2014

By Wole Oyebade
18 February 2015   |   7:25 pm
LAGOS State governor, Babatunde Fashola, has disclosed that the state’s cumulative budget performance for year 2014 was 83 per cent.   Fashola, at the budget review session Wednesday,, said the performance rating for last quarter of Y2014 closed at 77 per cent, a drop from 84 per cent recorded in September.   Though the drop…

LAGOS State governor, Babatunde Fashola, has disclosed that the state’s cumulative budget performance for year 2014 was 83 per cent.

  Fashola, at the budget review session Wednesday,, said the performance rating for last quarter of Y2014 closed at 77 per cent, a drop from 84 per cent recorded in September.

  Though the drop was not unconnected with the general drop in oil receipt to the Federation Account, fall in allocation to states and reduction in Internally Generated Revenue ( IGR) to about N18 billion monthly, the Governor said Lagos budget performance was outstanding due to several innovations the state had put in place. 

  Fashola added that while several states were yet to present 2015 budget, that of Lagos had already started working and targeted at completing those projects started by the current administration. The Y2015 budget size is N489. 69 billion. 

  According to him, “our budget is all about service and some of the impact of the fourth quarter performance would be seen in the completed court buildings in Epe, Ikeja and the solar powered projects in the primary schools and Primary Health Centres (PHCs).

   “Also, progress made on road construction across the state, in Agiliti, Isheri-Oshun and others. The Gbagada Cardiac and Renal Centre is completed and would be commissioned very soon.”

  The Governor said further that as his administration winds down, his priority is to do more on what had been done previously well and less of those things they haven’t done well. 

  “And what we will do more is to settle as many obligations as we can, in spite of the difficult financial situation to contractor, to accelerate and complete more ongoing projects like the housing scheme and road construction. We are issuing more contracts to support small businesses in the state.

  “We are in procurement for maintenance contract for about 666 schools. These are contracts which range from N2 million and N5 million. These were graduates from our technical and vocational centres who have formed small businesses and members of the society who bidded for the contract. We believe that this will help them to survive in this crunch economic time,” he said.

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